When looking for the cheapest place to live in New Mexico, you’ll be happy to find that the cost of living in the state is more affordable than the national average. It is also geographically diverse with vibrant metropolitan cities, mountains, the Chihuahuan Desert, and rural villages. Before you move here, find out about median income locations, the most affordable places to live in New Mexico, and where to find the cheapest rent.
Median Income Locations in New Mexico
The overall cost of living in New Mexico is 88.4, which is cheaper than the national average of 100. Expect to pay less for groceries, health care, pet rental fees. , utilities, transportation, and housing than renters in most other states.
Some of the cheapest places to live in New Mexico based on median income alone are:
1. Los Alamos
2. Santa Fe
4. Rio Rancho
Located near White Rock Canyon, Jemez, and the Pajarito Plateau, Los Alamos is a paradise for hikers, mountain bikers, snowboarders and skiers. The city has some of New Mexico’s best schools and low crime rates, making it ideal for families. Young professionals are also thriving here.
The median income is higher than the national average, mainly due to the Los Alamos National Library, which supports much of the economy. As such, the majority of the adult population has a master’s degree or higher accreditation.
The median family income is about $ 98,000 per year and an apartment costs about $ 1,150 per month.
Santa Fe is the capital and oldest state capital of the United States. Its rich heritage includes the San Miguel Mission, one of the oldest churches in the United States, and the Governors Palace, the oldest operating government building.
Santa Fe’s vibrant arts scene includes the Georgia O’Keeffe Museum, plenty of shopping opportunities at year-round farmer’s markets, and recreational activities for bikers, hikers and snow skiers. Many restaurants offer dishes like burritos, sopapillas and chili peppers.
Median household income is about $ 50,213 per year and an apartment costs about $ 1,285 per month.
In 1945, Alamogordo became famous as the test site for the first atomic bomb due to its isolation. A stone monument marks this historic place. Today it’s a vibrant, family-friendly town with various suburban neighborhoods and parks, including the Alameda Park Zoo which has a program to save the endangered Mexican wolf.
Some of Alamogordo’s economic activities include military activities at White Sands Missile Range and Holloman Air Force Base. White Sands National Monument is a prominent tourist attraction due to its white dunes. Another famous attraction is the balloon festival which takes place every September.
The median household income is about $ 43,460 per year and the average rent is about $ 1,000 per month.
Rio Rancho is one of the most affordable places to live in New Mexico for families due to the availability of schools, libraries, sports facilities, nature trails, and decent parks. Seniors also benefit from the Sandoval County Senior Program, which provides on-site transportation and meals in partnership with the Meadowlark Senior Center and the Mid-Region Senior Program.
The median household income is about $ 59,243 per year and the average rent is about $ 1,035 per month.
Carlsbad has a magnificent cave system in its national park and its economy also benefits from a rich deposit of natural gas, potash and oil. Lake Carlsbad offers many family activities, including fishing and picnics along the shores.
The median household income is about $ 48,058 per year and the average rent is about $ 1,990 per month.
The cheapest place to live in New Mexico
Renters can access most inexpensive places to live in New Mexico without compromising living standards. The less expensive neighborhoods are family friendly, safe and offer many different apartment styles.
Some of the cheapest places to live in New Mexico based on rental prices include:
With a population of around 9,036, Grants has a tight-knit society where you can easily get to know all of your neighbors. The serene suburban atmosphere makes this one of the best inexpensive places in New Mexico.
The average rental prices for different types of apartments are:
- Studio: $ 425
- Room: $ 645
- Two rooms: 850 $
- Three rooms: $ 1,040
As the name suggests, Lovington is one of the ideal inexpensive places to live in New Mexico for singles. Plus, the sumptuous Southwestern cuisine and friendly atmosphere attracts many renters from other parts of the United States.
The rent depends on the type of apartment, but the average rates are:
- Studio: $ 695
- Room: $ 845
- Two rooms: $ 1,100
- Three rooms: $ 1,295
Raccoon is one of the safest places in New Mexico, which makes it ideal for raising a family. The city offers inexpensive apartments and plenty of affordable activities. For example, you can go camping, hunting, boating, and hiking at Sugarite Canyon State Park.
Expect to pay the following rental prices:
- Studio: $ 590
- Room: $ 665
- Two rooms: $ 750
- Three rooms: $ 1,040
Due to its ability to provide many employment opportunities and affordable housing options, Hobbs has experienced a rapid increase in its population over the years. Plus, the best neighborhoods are just minutes from downtown and the Cowboy Hall of Fame.
You can get the cheapest New Mexico accommodation in Hobbs by choosing the following apartments:
- Studio: $ 402
- Room: $ 660
- Two rooms: $ 753
- Three rooms: $ 906
Roswell is famous for being a suspected crash site for an unidentified flying object (UFO) in 1947. Conspiracy theories aside, the locals are friendly and the place has incredible natural beauty.
You can find cheap rentals in Roswell ranging from the prices listed below:
- Studio: $ 446
- Room: $ 688
- Two rooms: $ 750
- Three rooms: $ 1,099